STORY: U.S. job openings fell less than expected in May, pointing to a still tight labor market that could keep the Federal Reserve on an aggressive monetary policy path as it battles high inflation.

Job openings dropped 427,000 to 11.3 million on the last day of May, according to the JOLTS report.

It was the second straight monthly decline after openings hit a record high of 11.9 million in March. May was the sixth straight month of vacancies in excess of 11 million.